Lyon, March 8, 2024 – 8:30 a.m. CET
Carester and Solvay announce the signing of a memorandum of understanding for the creation of a strategic partnership, which will combine the expertise of both companies in order to seize opportunities in Europe, in the rare earth permanent magnet value chain. The announcement of this collaboration between Carester and Solvay will enable both companies to leverage their respective strengths in the rare earth industry. Solvay will share its industrial know-how and technology, while Carester will contribute its expertise in recycling end-of-life equipment, its knowledge of the upstream market and its related activities.
Europe’s transition to the electrification of the automotive industry, the expansion of wind power and the acceleration of digitization require rare earth-based permanent magnets. Faced with China’s dominance in rare earth refining, Solvay has been taking proactive steps since late 2022 to establish a rare earth cluster for permanent magnets in La Rochelle, France, with the aim of strengthening European self-sufficiency. Capitalizing on its solid assets, decades of expertise in rare earths processing and with significant positions in catalysis, electronics and specialty products, Solvay’s projects in La Rochelle demonstrate its determination to meet the growing demands of the electric vehicle, wind energy and electronics markets.
Similarly, in parallel with its support for rare-earth mining companies in the development of refining processes, Carester has developed an industrial project, Caremag. This project, which has obtained all the necessary authorizations for its implementation in Lacq, France, will focus on magnet recycling and the extraction of heavy rare earths from mining concentrates, via a process with unique environmental performance.
“We are delighted to strengthen our commitment to the transition to green energy and the rare earth industry by investing in the magnet value chain in partnership with Carester,” emphasizes Philippe Kehren, CEO of Solvay. “By collaborating with recognized rare earth players outside China, we are laying the foundations for a strong rare earth cluster in Europe and establishing a solid European production base to supply the critically important magnet industry.”
“It’s a unique opportunity to collaborate with Solvay and its La Rochelle industrial site, to complement our future Lacq unit. In this way, we will strengthen Europe’s strategic independence in critical minerals, while paving the way for a circular economy through recycling,” says Frédéric Carencotte, CEO of Carester.
About Carester
CARESTER is the preferred partner of companies operating in the rare earths industry, providing specialized expertise in the analysis and design of production lines. Our team of professionals is committed to supporting and advising companies, offering them tailor-made solutions to meet their challenges and objectives. Through our Caremag initiative at Lacq, supported by France Relance and France 2030, we aim to recycle 2,000 tonnes of magnets and separate 5,000 tonnes of heavy rare earth concentrates from mining, setting a new standard in ESG practices. To find out more about our company, please visit our website www.carester.fr or follow us on LinkedIn.
About Solvay
Solvay, a company inspired by Ernest Solvay’s innovative ideas in the soda ash manufacturing process, is committed to reinventing chemistry with its 9,000 passionate employees. Since 1863, Solvay has been harnessing the power of chemistry to create innovative, sustainable solutions that meet our planet’s most fundamental needs. Its technologies are helping to shape a better world, whether by purifying the air, preserving water or food, protecting our health and well-being, creating eco-friendly clothing, or improving the durability of our car tires. Solvay’s ongoing determination to forge a sustainable and equitable future is driving the transition to carbon neutrality by 2050. With net sales of 5.6 billion euros in 2022, Solvay is listed on Euronext Brussels and Paris (SOLB). More information is available on solvay.com and Linkedin.
Forward-looking information
This press release may contain forward-looking statements. Forward-looking statements describe expectations, plans, strategies, objectives, future events or intentions. The realization of the forward-looking statements contained in this release is subject to risks and uncertainties due to a number of factors, including general economic factors, fluctuations in interest rates and foreign exchange rates; changing market conditions, product competition, the nature of product development, the impact of acquisitions and divestitures, restructurings, product withdrawals; the regulatory approval process, global R&I project scenarios and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied in such forward-looking statements. Should such known or unknown risks or uncertainties materialize, or should our assumptions prove incorrect, actual results may differ materially from those anticipated. The company undertakes no obligation to publicly update its forward-looking statements.
